What Will it Really Take to Lower Operational And Regulatory Costs Under Healthureum?

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The healthcare sector has seen many ups and downs. The changing technology and the complexity involved in treating and curbing diseases have caused many problems for the healthcare sector. The many people and long chains involved in medical service delivery have also affected efficiency. Sometimes, patients will need to wait for their insurance company or lawyers to provide the necessary information before they can get the medical care they want.

It is obvious that there has never been a secure channel for sharing medical data between parties. This increases the time it takes for patients to receive care and makes it more expensive. Healthureum has developed a reliable and new technology to solve the current healthcare problems. Unnecessary complexities are a major cause of high operational and regulatory cost.

Healthureum will employ the following methods to reduce healthcare administration costs: data sharing, blockchain technology employment and the use of the following technologies

By utilizing Smart Contracts

Contracts are made on predefined terms. Healthcare processes can be executed smoothly without the need to rely on human opinions. The system allows for sharing of non-identifiable information. This is because it will protect the patient’s privacy while allowing healthcare stakeholders access to the data. Smart contracts allow patients to quickly obtain loans, provided they comply with the terms. Credit will be processed quickly, reducing legal costs. This reduces the operational cost and allows patients to receive care quickly.

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Blockchain technology is urgently needed to lower transaction costs

Blockchain technology is a digital ledger which makes it easy to audit and eliminates any third parties that may slow down the healthcare sector. The regulatory costs of healthcare are decreased because the ledger is transparent, distributed among many departments or healthcare facilities. Blockchain eliminates the need to trace money laundering cases.

All keys, public and private, can be used to access blockchain (i.e. Users of Healthureum can access the medical data distributed over the network. Patients and health care professionals can both access the data with the right credentials. Blockchain technology allows patients to update their medical history and will also store information that dates back to childhood. This information can be accessed by doctors and other specialists, making it easier for patients to find the best treatment plan. Secure data sharing reduces both the operational cost and time it takes to access the data.

The Cost of sharing data among healthcare institutions has to be reduced

Different organizations can access patient data securely, making it easier for them to share the information when they need it. As long as the security credentials for blockchain are valid, it is cheaper to secure this information. Accessing information from one hospital was difficult before blockchain. It required a lot of work and involved many third parties. This made it expensive. Blockchain has improved data sharing efficiency and reduced the cost of transferring patient records. Blockchain is decentralized, which makes it easy to maintain a secure system without incurring large maintenance costs. This will prevent hackers from illegally accessing patient data. Auditing costs are also lower.

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Healthureum leads to improved billing

Healthureum eliminates the human errors common in hospital billing departments. Billing can take a long time due to incorrect information being shared between people. However, errors are common. Different agencies can access the same data using Blockchain technology to make billing easier. Healthureum also uses tokens to pay for medical expenses and to reward healthcare professionals who are skilled at accurately disseminating information on the blockchain network.

With the Inception Healthureum, ensuring the integrity of the global drug supply chain with respect to the integrity of health

Due to the entry of counterfeit drugs into the healthcare sector, pharmaceutical companies lose around $200 per year. The problem can be solved completely using blockchain technology and private keys. This system will track down the source of the supply chain and eliminate fake drugs from the market.

Healthureum will use blockchain to exchange accurate information and interconnect departments and healthcare organisations. This will reduce the costs that are incurred by intermediaries that slow down service delivery.

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Standardization and operability

Healthureum’s primary goal is to improve medical service delivery by encouraging interoperability among medical institutions. In this instance, interoperability refers to the ability to share data and information between medical facilities across a network.

Standardization is the process of storing and distributing data in a consistent format across all medical institutions. This facilitates sharing and interpretation. Interoperability is essential to ensure quality health delivery systems. Both interoperability and standardization are essential to provide quality healthcare services. These points show how interoperability can be enhanced by standardization through the Healthureum platform.

Better Data Handling

Interoperability and standardization, as proposed by Healthureum, both involve the processing of data. Data standardization and sharing are difficult in the current healthcare system, where many medical institutions use centralized EHR systems. This is due to the fact that all data is managed from one point, and other users need permission to access or share it.

Healthureum plans to use blockchain technology, which is a distributed database system in which no central computer has access to all data. Instead, all users can access the data in real-time and it must be approved by a consensus before it can be modified. The blockchain technology secures data using cryptography, making it tamper-proof. Healthureum’s features enhance interoperability as well as standardization. They enable data sharing, and allow different medical institutions to store and retrieve data in the same way. This greatly speeds up access to medical services.

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Improved Data Security

Security has been a problem for interoperability and standardization since the beginning. According to the World Health Organization (WHO), IT hacks caused a staggering 112,000,000 healthcare records data breaches in 2015. Data security breaches have forced medical institutions to refuse to share data with other sectors and to use different data recording methods.

In addition to imposing strict data sharing laws among medical institutions, the government has hindered efforts for standardization and interoperability in the sector. Healthureum is working to address this problem using its blockchain technology, which ensures data security. Cryptography is used to secure the blockchain technology. For quick verification, the database’s data is stored using timestamps. The data cannot be changed once it is saved in blocks. Any attempt to alter it would trigger alarms throughout the network, making it almost impossible to modify. This increased security will improve interoperability as well as standardization, by encouraging medical institutions and other healthcare providers to participate in the Healthureum platform. This greatly increases efficiency in medical service delivery.

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Research Handling

Research must be supported by many scientists and researchers, both inside and outside the agency. This is especially true when it comes time to verify the accuracy of data and research findings. To facilitate research, data that is used in research must also be in a standard format.

Healthureum’s blockchain technology can be used to improve interoperability between research institutions and standardize healthcare delivery.

Blockchain technology is tamper-proof, meaning that the integrity of data can be ensured as records cannot be altered. Timestamps are used to track records and allow researchers and medical institutions access data. They also provide real-time updates about the research’s progress. Interoperability is encouraged as data accuracy and accountability are guaranteed. Research institutions are encouraged to streamline data collection and data sharing to speed up research. High quality research results in improved healthcare delivery and breakthroughs in the treatment of long-standing incurable diseases.

In conclusion

Healthureum is a shining example of the interoperability and standardization. This intersection is crucial in improving efficiency in the delivery of medical services via the platform in a variety of ways, such as improved research, data security and collaboration.

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